• Home
  • Blog
  • Heavenly Funding! The Best Online Lenders for Low Annual Business Revenues

Heavenly Funding! The Best Online Lenders for Low Annual Business Revenues

Reviewed by Ty Crandall

November 13, 2023
Best Online Lenders for Low Annual Business Revenues Credit Suite

Best Online Lenders for Low Annual Business Revenues – Go Online For Lending

Are you looking for the best online lenders for low annual business revenues? Look no further, because we’ve got you covered. And you’ll know before you competition does!

There are lots of online lenders. But only some of them will grant you a loan if your annual business revenues are low. Qualifications including personal credit score (FICO) and time in business requirements can vary.  The best online lender for one company will not be the best online lending company for another.

This blog post may contain affiliate links, meaning when you click the links for some products and make a purchase, Credit Suite receives a commission at no additional cost to you.

Best Online Lenders for Low Annual Business Revenues: Background

We researched these online vendors in detail. We asked about their programs, rates, terms, and features. Only BlueVine, QuarterSpot, and Fundation Group LLC confirmed our research. Rates can rise and fall; this is normal when it comes to financing. Make sure to investigate any online lender that interests you. Be sure to confirm our numbers before asking for funding.

So here are the details. But keep in mind that numbers can and do change.

What frustrates you the most about how bank ratings decide if your business will get a loan? Check out how our guide can help.

Best Online Lenders for Low Annual Business Revenues: Balboa Capital

Online Lending for Low Annual Company Profits Credit SuiteBalboa Capital loans up to $250,000. You can get 3 – 24 month terms. There is no collateral needed. You get cash in days.

Balboa wants your company to be in business for at least one year. Also, Balboa Capital also wants to see $300,000 or more in annual revenue. Balboa Capital asks for your personal credit score.

They also provide business cash advances. Balboa Capital will advance $5,000 to $250,000. Get 3 – 18 month terms.

There is no collateral needed. Your company must be in business for at least one year. You must also have $10,000 or more in monthly credit card and debit card deposits. Hence this works out to $120,000 per year.

One advantage is the size of their business cash advances. Plus you don’t need collateral to get such an advance. A very big disadvantage is that their fees are not listed on their website. Decide whether this clear lack of transparency is an issue for you.

Best Online Lenders for Low Annual Business Revenues: BlueVine

BlueVine confirmed this information. They offer invoice factoring and lines of credit. For invoice factoring, there are no reserves or minimums. The BlueVine system syncs with your accounting software. They connect to QuickBooks Online. BlueVine also works with FreshBooks and Xero and others. You can get rebates on the same day. BlueVine offers up to $2,500,000 in invoice factoring financing.

Your business must be either B2B or B2G (business to government). Right now, BlueVine does not work with medical or healthcare industry businesses. The business must have revenues of $10,000 or more per month. This works out to $120,000 per year. You will need to have a 620 or better FICO score for a line of credit.

Submitted invoices must have a face value of $500 or more. Payment term must be less than 13 weeks, but the due date also must be at least a week away.

Fees for invoice factoring: Flat 85-90% advance rates. Free ACH (1-2 day delivery). The cost is $15 per wire (same-day delivery). BlueVine will penalize you for deadbeat clients. If they don’t pay their invoice, then you are responsible for paying. You have to have a consumer credit score of 530 or better.

BlueVine offers a true revolving line of credit for up to $150,000. They have 24 hour approval. Your business must have revenues of $10,000 or more per month. Flex credit lines currently run from $5,000 – $100,000. Interest is as low as 4.8%. there are no maintenance or unused credit fees. You must have a consumer credit score of 600 or better.

One advantage is how easy invoice factoring is. Interest is low. You can get invoice factoring with a 530 or better FICO.

Learn bank rating secrets with Credit Suite's free, sure-fire guide.

Best Online Lenders for Low Annual Business Revenues: Bond Street

Bond Street offers term loans of $10,000 – $1 million. Terms are up to 1 – 3 years. Bond Street will ask for both EIN and SSN.

Offer arrives within 3 days. Bond Street will only do a soft credit pull. 640 or better credit score is most likely to get a loan but Bond Street will look at other factors.

Bond Street wants your business to be at least 2 years old. They want to see annual revenue of at least $200,000.

Rates start at 6% and they go up to 22%. The annual percentage rate works out to 8 – 25%. There is a 3 – 5 % origination fee.

Advantages are the soft credit pull. Plus Bond Street will look at factors beyond your personal credit if your FICO score is low. Bond Street can offer very large loans if you qualify. Disadvantages are they want that you be in business longer. And the top APR is very high.

Best Online Lenders for Low Annual Business Revenues: Credibly

Credibly is an emerging Fintech platform. Credibly provides $5,000 to $250,000 in small business funding. This is for working capital or for small business expansion.

You must in business for at least 6 months. You must have at least $15,000 in monthly revenue (this works out to $180,000 per year). Credibly will want to read and review your company’s most recent 3 months’ worth of bank statements.

There is a 2.5% origination fee. Their rates start at 9.99% and go up to 30.00%. Funding is within 48 hours.

Credibly will pull your personal credit. That will thereby impact your personal credit score. Credibly also wants a personal guarantee. They also want you to provide collateral for funding. Credibly is going to place a lien on your business if you cannot pay.

Advantages include that they only want a short time in business. A disadvantage or wild card is that the company has only been around since 2010. Plus Credibly is in Fintech. Fintech is an umbrella term which includes blockchain and crypto currencies. Hence their model could change in short order as this tech continues to improve.

Best Online Lenders for Low Annual Business Revenues: Fundation Group LLC

Fundation Group LLC confirmed this information. There are no prepayment fees or hidden fees of any kind on their products. Fundation Group LLC will use simple interest rates and never use factor rates. Fundation Group LLC offers term loans and lines of credit. For term loans: $20,000 – 500,000 is available. Funding is as soon as one business day. Terms: 1 – 4 years.

Payments are twice per month. No specific collateral needed. They want a personal guarantee. There is also a UCC-1 blanket lien for most borrowers. Fundation Group LLC wants your company to be in business for at least a one year. A company must have at least 3 employees. The company must have $100,000 or more in annual revenue.

Need good personal credit. Rates are risk-based; the higher the risk, the higher the rate. APR 7.99% – 29.99%. Up to 5.0% origination fee (deducted from net proceeds). No prepayment fees.

For lines of credit: $20,000 – 100,000 is available. New balance after each draw is amortized in equal instalments over 18 months. Payments are monthly. No specific collateral needed but Fundation Group LLC wants a personal guarantee.

There is a UCC-1 blanket lien for most borrowers. Your company must be in business for one year at least. A company must have at least 3 employees. The company must have $100,000 or more in annual revenue. The borrower will need to have good personal credit.

There is a $500 closing fee. 2.00% draw fee deducted from each draw. Rates are risk-based; the higher the risk, the higher the rate. APR 7.99% – 29.99%. No prepayment fees.

Advantages include you only need to be in business for a short time. Closing fee is low and is a flat rate. Disadvantages include draw fees and a very high max APR.

Best Online Lenders for Low Annual Business Revenues: Fundera

Fundera is not an actual lender. Fundera is a marketplace connecting small business owners to financing for their business via traditional and alternative lenders. There are several financing options.

Here are two where low annual business revenues are not a problem.

Startup Loans

Most business owners approved had exceptional credit. So this was a credit score of 700 or better. Most companies approved had $75,000 or more in annual revenue. Up to $150,000 available, with 6 months – 4 years terms. Funding is in as little as two weeks.

There are 7.9 – 19.9% interest rates, but these loans are interest-free for the first 9 – 15 months with no prepayment penalty.

Personal Loans for Business

Most companies approved had two or more years in business. Most business owners approved had a credit score of 680 or better. And most companies approved had $45,000 or more in annual revenue. There is up to $35,000 available, with 3 – 5 year terms. Funding is in as little as one day. This loan reports on your personal credit history.

Fundera will charge 5.99 – 36% APR.

Learn bank rating secrets with Credit Suite's free, sure-fire guide.

Best Online Lenders for Low Annual Business Revenues: Kabbage

Kabbage offers lines of credit. Up to $150,000 is available. Qualify in 10 minutes. There are terms of 6 or 12 months. 6 month loans are for $2,000 and up. 12 month loans are for $10,000 or more.

A company must be in business 1 or more years. Business revenue must be $50,000/year or $4,200/month over the last 3 months.

Kabbage links to your bank or merchant accounts. This is to understand your cash flow and decide how much you can afford to borrow. They offer lines of credit from $2,000 to $150,000.

There are no fees to apply or establish your line. Pay fees only on what you take. Fees range from 1.5 – 10%. Kabbage bases their rates on business performance factors. Save money with early payments.

Advantages include low fees. Revenue can also be low. Disadvantages include less term flexibility for smaller loans. Loans under $10,000 can only be for a 6-month term.

Best Online Lenders for Low Annual Business Revenues: Lending Club

Lending Club offers term loans. Business loans from $5,000 to $300,000. Loan terms 1 – 5 years.

Get a quote in less than 5 minutes. Funds are available in as little as 48 hours with approval. There are no prepayment penalties.

Annual Revenue must be $75,000 or more. You must be in business for 2 years or more. You must have a personal FICO score of 620 or better.

Rates of 5.99% – 29.99%. Total annualized rates starting at 8%.

Advantages are that they aren’t looking for a high annual revenue. Funds are available quickly. Disadvantages include high max rates.

Best Online Lenders for Low Annual Business Revenues: NUGROWTH/IBIS

NUGROWTH/IBIS provides working capital advances. This is for companies in both the United States and Canada. They are in New York, NY.

Annual revenue must be at least $120,000. You have to have personal credit score of 550 or better. You must be in business at least one year.

NUGROWTH/IBIS will ask about your intended use of the funds. But that doesn’t seem to matter when it comes to your chance for getting funding.

$5,000 – $250,000 is available. They have flexible terms. The entire process takes as little as 72 hours. “A small percentage of your daily sales revenue is withheld until the total amount is repaid.”

Advantages include a quick turnaround and flexible terms. Disadvantages include basing the fees on sales revenue. Variable fees make budgeting more difficult.

Best Online Lenders for Low Annual Business Revenues: OnDeck (OD)

OnDeck offers short term loans and lines of credit. For short term loans: $5,000 – $250,000. Terms of 3 – 24 months

You must have annual revenue of $100,000 or more. Personal FICO Score of 500 or better. You must be in business 12 months or more. There is an 8.5% – 79% APR.

For lines of credit: $5,000 – $100,000 available. There is a term of 6 months.

You must have annual revenue of $100,000 or more. Personal FICO Score of 600 or better. You must be in business 9 months or more. There is a 13.99% to 36% APR.

Advantages include they will accept a low FICO score for term loans. There is some flexibility for term lengths. Disadvantages are the max APR for both term loans and lines of credit are high. If your company cannot pay back a loan or line of credit, it could sink you financially.

Best Online Lenders for Low Annual Business Revenues: PayPal and PayPal Working Capital

PayPal Working Capital offers loans. Fixed fee is $500. And there is no credit check by PayPal Working Capital.

Max loan amount can be up to 30% of annual PayPal sales. No more than $97,000 is available for a first loan. Third loan can be up to $125,000.

Funding is in minutes. No early payment penalty. A business must have a PayPal Business or Premier account for 3 months or longer.

Your company must process $20,000 – $20 million in annual PayPal sales with a Premier PayPal account. Or $15,000 – $20 million in annual PayPal sales with a Business PayPal account.

You must pay off any existing PayPal Working Capital loan. Funding is available in the US, Australia, and the UK. Automatic repayments deducted as a percentage of each PayPal sale. Fee comes from your PayPal sales history, loan amount, and repayment percentage chosen. Also, a higher payment percentage will lower the fee.

Advantages include payment deductions from sales. These are easier to make and not miss. Plus few online lenders offer funding which is available outside the US. Disadvantages are that the whole system hinges on your customers using PayPal. If you have customers who don’t, it will make it harder to get funding this way. This is even with good credit, time in business, and annual revenues.

Best Online Lenders for Low Annual Business Revenues: QuarterSpot

Quarter Spot offers short term loans. $5,000 – $150,000 is available. Terms: 9 – 18 months. Quarter Spot will only do a soft credit check when you apply. QuarterSpot confirmed this information.

Your company must have annual revenue of $200,000 or more. You have to have a personal FICO Score of 550 or better. There is no fee to apply.

Minimal time in business: 12 months. You must have at least an average bank balance of $20,000. You must also show at least $16,000 in monthly sales.

Borrower must own at least 50% of the business. Rates are 25% – 40%.

Advantages are that they are okay with a low personal FICO score. They only want a low average bank balance. Disadvantages are this is not for sole proprietors AT ALL. Max rates are rather high.

Best Online Lenders for Low Annual Business Revenues – Observations

Getting funding with low annual business revenues is not easy. So here are some pros and cons.

So the lowest annual business revenues you can get away with are $15,000 in PayPal sales. And this is for PayPal Working Capital. There is also $50,000 for Kabbage. The highest amount available is $1 million from Bond Street. The lowest FICO score you can get away with is 500 at OnDeck although this is for short term loans only.

A company with low yearly business revenues would do well to get smaller loans for shorter terms. This can be as they build up their business credit and, presumably, their annual revenues.

More Choices

There are more choices once a business starts to show consistent monthly revenues of at least $10,000.

If you need less funding, you might also want to look to microlenders for your immediate needs.

As with all funding sources, make sure to read the fine print. Your own unique needs are most important when deciding where to get business funding. Today, we want to hear from our audience! Share your voice with us about your experiences with the best online lenders for low annual business revenues.

About the author 

Janet Gershen-Siegel

Janet Gershen-Siegel is the seasoned Finance Writer and a former content manager at Credit Suite. She has been admitted to practice law for over 30 years, with a focus on litigation and product liability, and is a published author, with writing credits at Entrepreneur, FedSmith.com and BusinessingMag.com.

She has a BA in Philosophy from Boston University, a JD from the Delaware Law School of Widener University, and a MS in Interactive Media (Social Media) from Quinnipiac University.

She regularly writes for Credit Suite, which helps businesses improve Fundability™, build credit, and get approved for loans and credit lines.

Her specialties: business credit, business credit cards, business funding, crowdfunding, and law

{"email":"Email address invalid","url":"Website address invalid","required":"Required field missing"}

Stay In The Loop

Subscribe to our weekly newsletter that delivers the most actionable, tactical, and timely business financing tips you actually want and need for Free
*Plus get instant access to the 3-part Fundability™ training - a systems that helps your business become more Fundable and makes you look great to credit issuers and lenders

Take the Fundability Assessment